Back to the list

US Crypto Exchange Exec: No Legal Precedent To Not List XRP

source-logo  coingape.com 02 June 2023 18:48, UTC

Crypto Market News: One of the most popular demands in the crypto community is to relist XRP in US based crypto exchanges like Coinbase and Kraken. The exchanges had in the first place delisted the token from their platforms in response to the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Ripple over the unregistered sale of XRP. However, it is not proven yet that the XRP offerings were illegal in the SEC lawsuit. Hence, it is argued that the delisting of the token is unjust.

Also Read: Coinbase Derivatives Exchange To Launch BTC, ETH Futures On June 5

The Summary Judgement in the lawsuit is awaited from Judge Analisa Torres while June 13, 2023 is by when the Hinman speech documents are to be publicly released.

XRP Delisting Has No Legal Precedent

In the context of Uphold being one of the rare US crypto exchanges to still offer XRP trade, Nancy Beaton, the Chief Revenue and Marketing Officer at the crypto exchange, said there was no legal precedent to follow when it comes to not listing the token. In the recent times, the XRP token holder community has also pushed the same argument while demanding that the exchange list the cryptocurrency on its platform. She added that Uphold would follow it if and when there is a legal precedent. However, she affirmed that there is no legal precedent currently and that they feel comfortable listing the token.

“We are highly regulated so we do take compliance incredibly serious at Uphold. And when we looked at what was happening and obviously there is a lawsuit out there, but when when we look at that and work with our legal counsel, there is no precedent yet. And for us it felt prudent to maintain listing the token.”

Earlier, CoinGape reported legal experts’ prediction of a timeline for the delivery of XRP lawsuit summary judgement. Read More to know the details

Also Read: Cardano Price Jumps 4% as it Hits New Transaction Milestone – Report